Landos Biopharma, a Phase 2 biotech developing oral small molecule therapies for autoimmune diseases, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
The company leverages its proprietary AI-based precision medicine LANCE platform to identify novel therapeutic targets based on predictions of immunometabolic function. To date, it has identified seven novel immunometabolic targets and product candidates across 14 indications. Landos Biopharma's lead candidate, BT-11, has completed the induction phase of a Phase 2 trial in mild to moderate ulcerative colitis (UC) patients in the US, Russia, and Europe. The company expects to initiate a Phase 3 trial of BT-11 for UC and a Phase 2 trial of BT-11 for moderate to severe Crohn's disease in the 1H21.
The Blacksburg, VA-based company was founded in 2017 and plans to list on the Nasdaq under the symbol LABP. Landos Biopharma filed confidentially on July 24, 2020. J.P. Morgan, Jefferies and SVB Leerink are the joint bookrunners on the deal. No pricing terms were disclosed.
